Penumbra, Inc. $PEN Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in shares of Penumbra, Inc. (NYSE:PEN) by 7,115.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,173 shares of the company’s stock after buying an additional 108,646 shares during the quarter. Hsbc Holdings PLC’s holdings in Penumbra were worth $36,061,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Penumbra by 7.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,059 shares of the company’s stock valued at $348,000 after purchasing an additional 74 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in shares of Penumbra in the 1st quarter valued at $395,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Penumbra by 2.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 8,057 shares of the company’s stock worth $2,646,000 after purchasing an additional 216 shares during the last quarter. R Squared Ltd purchased a new position in Penumbra during the 1st quarter worth approximately $849,000. Finally, Credit Industriel ET Commercial acquired a new position in shares of Penumbra in the 1st quarter valued at $8,478,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on PEN shares. Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. Evercore reiterated an “outperform” rating and issued a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Zacks Research downgraded Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Royal Bank Of Canada restated a “sector perform” rating and set a $374.00 target price on shares of Penumbra in a research report on Thursday, June 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a report on Friday. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $360.33.

Penumbra Price Performance

Shares of NYSE:PEN opened at $318.18 on Tuesday. The company has a market cap of $12.51 billion, a P/E ratio of 73.31, a P/E/G ratio of 1.97 and a beta of 0.70. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The business has a fifty day simple moving average of $319.87 and a 200-day simple moving average of $329.86.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The business had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities research analysts forecast that Penumbra, Inc. will post 5.04 EPS for the current year.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.